According to Lori Dickerson Fouché, with TIAA, “The enhanced Retirement Profile tool shows TIAA annuity customers how the combination of lifetime income—such as fixed and variable annuities, Social Security or pensions—and systematic withdrawals have the potential to yield a steady and guaranteed retirement paycheck."
While start-up plans do offer beneficial provisions for retirement plan participants, PLANSPONSOR’s 2018 Defined Contribution Survey finds not all of them are yet using plan designs and governance practices that are recommended in the industry.
If they were automatically enrolled into a defined contribution plan, 77% say they would remain in the plan.
INSIDE THE MAGAZINE PLANSPONSOR February-March 2019
The plan’s history offers a case study for how to turn around a troubled public pension system after years of neglect; the system at one point was no better than 20% funded.
“While the VALIC name is strong and well respected, the AIG name carries even greater recognition in the marketplace and among sponsors, consultants and participants,” Rob Scheinerman, president, AIG Retirement Services, tells PLANSPONSOR.
LT Trust's new website will serve as a 401(k) resource center to employers sponsoring 401(k) plans and to their employees.
HSA Bank recommends employers offer a guide about health plans, their costs and what they cover; a health plan comparison tool; and a tax-advantaged savings account to help employees become better health care consumers.
Fidelity is accused of charging an illegal and undisclosed pay-to-play fee that Fidelity extracts from investment companies that wish to ensure their products are marketed and sold through Fidelity.
J.P. Morgan’s “Corporate Pension Peer Analysis 2018,” says 2018 was the largest asset allocation de-risking year for defined benefit (DB) plans since 2011.
The Defined Contribution Institutional Investment Association has issued a first-of-its-kind report about allocations in custom target-date funds (TDFs), and while plan sponsors' data is aggregated for the report, Joshua Dietch, from T. Rowe Price and a co-contributor to the research, said each plan has “unique rationales for doing what they did.”
The Pension Accountability Act is designed to give workers and retirees “a seat at the table” when a looming multiemployer pension bankruptcy may require major pension cuts, U.S. Senators from Ohio announced.
“A big driver of the 2018 buy-out sales was a combination of mid- to large-PRT deals,” says Eugene Noble, research analyst, LIMRA Secure Retirement Institute. “We also saw two new insurance companies enter the PRT market this year.”